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Credit Card Legislation

CardRatings.com Poll Finds Many Disagree with Law Restricting Credit to Students

A recent poll conducted by CardRatings.com found that a many consumers disapprove of the new law restricting credit for consumers under the age of 21. Of the 956 respondents, 313 poll takers -- or 33 percent -- felt the new law is unfair.  One of the credit card industry's leading experts weighs in. "Considering how polarizing the student [...]

Categories: Legislation, Polls, Student
Risk, Not Law, Cause for Rising Credit Card Rates

Rising credit card interest rates have captured the media's attention over the past few months. Even for Americans whose credit scores have not been impacted by the nation's financial crisis, sudden credit card rate hikes have caused concern. Some pundits argued that increased industry regulation could force all cardholders to pay more for their plastic. [...]

Categories: Interest / Fees, Legislation
New Credit Reporting Law (FACT)

On December 4th, President Bush signed into law the Fair and Accurate Credit Transactions Act of 2003 (FACT), a law that updates the Fair Credit Reporting Act. While parts of the law are great for consumers, others aren't. Different parts will go into effect from March 2004 through December 2004. Here are the main provisions: Free Annual [...]

Categories: Credit Report, Legislation
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